Question 1

How long does a bridge loan take to approve?

Accepted Answer

With the right file, purchase bridge loans can be approved in 3 to 5 days, and we have closed them in under a week. The speed comes from the common-sense underwriting described above: strong equity and a credible sale plan carry more weight than a perfect checklist.

Question 2

Can I get a bridge loan with a lower credit score?

Accepted Answer

Often, yes. Bridge lending weighs your equity position and your exit plan more heavily than your score. If you have meaningful equity and a clear path to selling your current home, we can usually find a workable structure.

Question 3

What happens if my home doesn’t sell in time?

Accepted Answer

Most bridge loans run 6 to 12 months, and extensions are usually available for a fee. We also build a backup refinance plan into every bridge we structure, so a slow sale becomes an inconvenience rather than a crisis.

Question 4

Can a bridge loan be placed on both homes?

Accepted Answer

Yes. When you have strong equity in the old house but not enough income to carry all the debt on paper, we will often place the bridge across both properties to make the numbers work. It is a common structure for exactly that situation.

Question 5

What are the pros and cons of bridge loans?

Accepted Answer

The pros:Unlocks trapped equity for your down payment, closing costs, renovations, or debt payoffRemoves the home sale contingency that loses bidding warsGives you time to prepare your old home for sale and maximize its priceLets you move once instead of twice.The cons:Upfront costs are high because the loan is short-term and higher riskRates run 2-4% above standard mortgagesA home that does not sell within the term can trigger extension fees.It is a powerful tool with a real price tag, which is why it should be compared against alternatives every time.

Question 6

Do I have to have my current home listed for sale?

Accepted Answer

No. In fact, for bridge refinances, we see most homes listed for sale up to several months after purchasing a new home. This allows time for renovation, decluttering, and staging to maximize your home's value.

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